Two Sigma Can't Extend VP's Work Ban In Contract Fight

Law360, New York (April 17, 2015, 5:33 PM EDT) -- A New York judge on Friday refused to extend a non-compete period for a former vice president of Two Sigma Investments LLC who was accused of breaching his employment agreement  by starting a rival firm that threatened the hedge fund’s trade secrets, but issued an injunction enforcing the contract.

Sergey Fein, a former quantitative software engineer and research analyst for Two Sigma, was sued by his old employer earlier this month, which claimed Fein had violated a provision in his employment agreement that banned him from working for a competitor for a year after he resigned in May, by laying the...

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